Prosecutors are investigating possible links between former South Korean first lady Kim Kee-on-hee and a crypto market maker suspected of manipulating the prices of low-cap altcoins.
South Korean media outlet Ohmynews claimed that the special prosecutor’s team that investigated the former first lady had seen evidence that it had sent an official request to a colleague investigating the infamous Crypto Market Maker called John Ver Kim (Real Surname: Park).
Prosecutors suspect the park (44) fraud and “fraud coins” operation. A legal investigation into the park and some of his suspicious companions are ongoing.
Former Korean First Lady: Will the code wrap arrive?
Ohmynews said last week that the special prosecutor “requested for loans to investigate records” in a park case. Media outlet wrote:
“If the special prosecutor’s team requests investigation records related to the park, we cannot rule out Kim Kun Hee or someone nearby her being involved in a fraud coin case or a crime, investigation or trial of the park.”
Kim has been accused of being influenced by corruption and peddling during the presidency of President Yoon Seok Yeol as the first lady of Korea.
Yoon was removed from his office earlier this year after an unsuccessful attempt to declare martial law in December 2024.
Kim Probe’s Chief Prosecutor, Special Prosecutor Min Jung-ki, summoned Kim’s close associate, Lee Jung-ho, after questioning on July 21.
Prosecutor’s attack
Lee is the former chief of investment company BlackPearl Invest. At the end of last week, prosecutors raided their home and car.
Prosecutors believe Lee received $58,000 in bribes from a car executive accused of manipulating the stock price.
They believe that Lee may have asked Kim to put pressure on members of the judiciary.
Prosecutors believe Lee has access to the former First Lady’s bank accounts and used them to process the funds associated with the case.
Meanwhile, Park was arrested and named Moon along with the CEO of a software development company.
Prosecutors believe the duo has won hundreds of billions of people in 2021 by issuing and listing alleged fraud coins named Atube.
Scam Coin Probe
The park is also suspected of running another fraud coin named Podo. Investigators believe they embezzled 80 billion wins “using the same method” in early 2021.
On December 18, 2023, Park attempted to escape the country on a ship to China. However, his efforts were hampered by the storm.
The Coast Guard intervened, fearing the safety of the boat and its crew. Officers forced docking shortly after the boat departed, and later found the park illegally loaded.
Park was active on social media before his arrest. There, he openly flaunted his wealth and a large collection of imported supercars.
Prosecutors then seized his car, not just thousands of dollars worth of code.
The park also has assets worth at least tens of billions of won, including domestic and international real estate holdings.
Ohmynews reporter said the special prosecutor’s team did not respond to requests for comment.
Korean first lady Kim Keon-hee first appeared on Crypto News in the post of “Crypto Market Maker Probe.”
